Marc Faber and Jim Rogers: “Obama is a Disaster… You Should Buy Yourself a Machine Gun”

  •   The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

investmentwatchblog.com
November 8, 2012

Marc Faber, publisher of the Gloom Boom, & Doom Report, told Bloomberg Television’s Trish Regan and Adam Johnson on “Street Smart” today that “Mr. Obama is a disaster for business and a disaster for the United States” and that he “thought that the market on his reelection should be down at least 50%.”

Faber also said “I doubt [Obama] will stay at the presidency for another four years. I think there will be so many scandals” and that investors should “buy themselves a machine gun.”

I am surprised with the reelection of Mr. Obama. The S&P is only down like 30 points. I would have thought that the market on his reelection should be down at least 50%…I think Mr. Obama is a disaster for business and a disaster for the United States. Not that Mr. Romney would be much better, but the Republicans understand the problem of excessive debt better than Mr. Obama who basically doesn’t care about piling up debt.You also have in the background Mr. Bernanke, who with artificially low interest rates enables the debt to essentially escalate endlessly.”

On where he sees the equity markets given Obama’s reelection:

“You have offsetting factors. The problem with Mr. Obama is that you get more regulation and it’s disincentive for businessmen to hire people. You probably also get higher taxes, so in terms of the economy, he is very negative in my view. But you still have Mr. Bernanke, and you still have because of money printing very high corporate earnings. They are now coming down, but they are still at the elevated level. You have money printing supporting the market and on the other hand, you have an economic slowdown globally which will affect earnings negatively. It is difficult to tell where the market will go because we have so much manipulation. I think, minimum, it will drop 20%.”

On how investors should protect their assets:

“They should buy themselves a machine gun…I need to buy a tank. Joking aside, look, we have manipulated markets. Whenever you manipulate markets, you will get unintended consequences. i think the reelection is unintended consequence of money printing, that favors the so- called 0.25%. It was easy for the Democrats to attack the wealthy fat cats of Wall Street, the elite, and the privileged people to portray them as a profiteer of the system, which to some extent, they are. Not because they wanted to but because Mr. Bernanke enabled them to be profiteers. We have a situation where you have today Mr. Obama, I doubt he will stay at the presidency for another four years. I think there will be so many scandals, but that’s another story.”

On why he believes Obama won’t make it another four years as president:

“There is so much smoke. I suppose there is some fire. That is my observation. We don’t know how the world will look in five years’ time. I am pretty sure central banks will continue to print money and the standards of living for people in the western world, not just in America, will continue to decline because the cost of living increases will exceed income. The cost of living will also go up because all kinds of taxes will increase. Like Proposition 30 today in California is of course negative for the Californian economy. That is the state of the world. We have worsening economic conditions, but we have money printing.”

On Speaker Boehner’s comments to Congress today on the fiscal cliff:

“I am sure that they will solve it. They will increase cosmetically some taxes and they will cut cosmetically some spending and it will all be back loaded 10 years from now. So in reality, not much will happen. But the market tends to rally towards year-end, and i think from a low of around 1360, we could have a rally to January, but I think sometime next year will be again lower.”

On whether he sees the U.S. in recession in 2013:

“Yes, I think that if the figures were compiled properly. If nominal GDP was adjusted by a proper price deflator, we would probably already be in recession…But I would like to point out one thing about the economy. GDP is not a very relevant figure. It consists of many different sectors of the economy, so you can have some sectors that are improving like housing and others that are worsening.”

On his dollar and euro positions:

“This is the choice in life. You choose what is less bad. I don’t particularly like Mr. Obama, but I think he is less bad for the world than Mr. Romney. It is a tragedy of life that both candidates did not lose the election. They would have deserved both to lose.”

Previously sees a 20% decline ahead for the Dow and S&P 500 from their recent highs. 

Jim Rogers: Obama re-election means disaster is now guaranteed

Under Obama’s first term in office, the Federal Reserve slashed interest rates to near zero and pumped the economy with trillions of dollars in fresh liquidity via a monetary policy tool known as quantitative easing, under which the U.S. central bank buys bonds from banks and floods the economy with excess money supply to encourage investing and hiring.

Republican challenger Mitt Romney has said he opposes such policy and suggested he would not renew Fed Chairman Ben Bernanke’s term when it expires in January 2014.

Now that Obama is set to preside for another four years, expect the Fed to keep monetary policy loose with the aim of spurring investing and hiring, when in reality, inflation rates are on the rise.

“It’s going to be more inflation, more money printing, more debt, more spending,” Rogers told CNBC just prior to Obama’s re-election.

Investors should avoid U.S. government debt and the dollar and stock up on gold.

“It’s not going to be good for you me or anybody else,” Rogers said.

Gephardt: Stock Market Is At Risk Of Losing 2,000 Points Within The Next Few Weeks

There is some risk that the public could hear some “histrionics” from Democrats and Republicans playing to their bases as Congress works on spending cuts and tax reform, all of which could severely unsettle the markets, the former House majority leader said Wednesday.

“If it looks like that is happening you could have a couple really bad days on Wall Street,” Dick Gephardt said at an event hosted by National Journal magazine. “You could have the markets drop by 1,000 or 2,000 points.” (The event was titled “The Day After: The 2012 Election Debrief.”)

This article was posted: Thursday, November 8, 2012 at 10:47 am

Tags: ,







Infowars.com Videos:

Comment on this article

Comments are closed.


Watch the News

FEATURED VIDEOS
Harry Reid Blatantly Lies To America See the rest on the Alex Jones YouTube channel.

Smart Guns Endanger Children See the rest on the Alex Jones YouTube channel.

© 2013 Infowars.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.